One of the co-founders of Angel City Football Club, the American National Women’s Soccer League (NWSL) outfit, is plotting a transatlantic swoop that would see her investment vehicle buying a stake in Chelsea FC’s women’s team.
Sky News has learnt that Monarch Collective, which is jointly headed by Kara Nortman, is among the parties exploring the purchase of a minority interest in the current Women’s Super League (WSL) leaders.
Monarch Collective raised a $150m fund to invest in women’s sports leagues and clubs nearly two years ago.
The firm has since invested in a women’s soccer franchise in Boston as well as San Diego Wave, which sits in 10th place in the NWSL league table.
Ms Nortman is a former venture capitalist who spent eight years at Upfront Ventures.
Monarch Collective’s talks with Chelsea executives are said to have reached a detailed stage, although people close to the club insisted there was no certainty that an agreement would be reached.
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The Blues have dropped points only once in 10 games this season, and are six points clear of Manchester City, their closest challengers.
If completed, a deal involving Monarch Collective would send a powerful signal about the growing attractiveness of women’s sports assets in the UK.
Last summer, reports suggested that the Premier League would scrutinise the transfer of ownership of Chelsea’s women’s team by the club’s parent company to satisfy itself about its compliance with profitability and sustainability rules.
The club’s owners – the financiers Todd Boehly and Behdad Eghbali – hired merchant bankers to evaluate bringing external investment into the women’s team.
Other details, including the identities of rival suitors and the valuation at which a deal might take place, were unclear on Friday.
Previous reports had suggested that the club’s women’s team might attract a valuation of more than £150m.
Chelsea has said nothing publicly about the process since then, but last May it issued a statement saying: “In advance of next season, Chelsea Women will be repositioned so that it sits alongside, rather than beneath, the men’s team in a move that heralds a new era for the club.
“Chelsea Women will therefore have dedicated resources, management and commercial leadership, which will be focussed solely on the growth and success of the women’s team.
“This new approach will enable Chelsea Women to harness the full potential of the opportunity for women’s football, amplifying our commitment to excellence both on and off the pitch.
“Currently, any prospective investor into a WSL team is required to invest through a men’s team.
“Having analysed the market and discussed with investors, there is a strong desire for an opportunity to invest solely into the women’s game to specifically support women’s football and benefit from the growth in the women’s game.
“BDT & MSD Partners, a global merchant bank, has been engaged as financial advisor on a potential minority investment in the club, inclusive of evaluating inbound interest related to Chelsea Women.”
Since that statement, reports have suggested that the club’s owners have fallen out and were looking at the option of buying each other’s interest in the Stamford Bridge outfit.
Both Chelsea and Jasmine Robinson, one of Monarch Collective’s two managing partners, declined to comment on any discussions between them.
